Omaha daily bee., 1887-07-31
THE SPECULATIVE MARKETS.
Wheat Takes Another Tumble Under Heavy
Pressure BY Bears.
NO SUPPORT FROM THE BULLS
Corn Stubborn and Ste ady, hut Prices
Step Down y Peg-Oats Again
Heavy-Provisions Quiet
Quotations.
CHICAGO PRODUCE MA RKET.

CHICAGO. July So.-[Specal Telegram to
the BEE. the pressure OF August wheat
upon the market carried prices down 159stc.
st. Louis declined full lc, and other home
markets were 1s1Ssc lower. Cables were
steady, and no alteration in prices Is men,
toned. The general public is lending the
market no support whatever, and the bears
are aggressive, and as the bulls are apparent
ly unwilling to stand a serious loss on in
vestments, the speculative values look shaky
to dislnterested observers. The semi-panic
in Wall street Is felt also on the produce
exchange, though the shipping demand for
foreign account prevents serious shrinkage
in values. The seaboard clearances for the
first five days of the week aggregate 1,667, 600
bushels, against 969. 600 bushels for the cor
responding period last weOk, and western
point receipts for the week are not materially
larger than last week. Statisticians are
guessing on an increase of about 1000, 900
bushels in the visible. The market did not
seem to have been fully able to digest the
load Of long wheat that came out yesterday,
and the opening this morning was off 1S@ssc
as compared with yesterday. The
phrase "limpness," describes the tone Of the
market, and the tone did not undergo any
decided change for the better up to o'clock,
figures In August was recovered and the
first and last quotations were identical.
There was a good deal Of changing over of
August contracts into later months. and the
difference between August and September
averaged 1SNlHc, thOug b at one time It
was &c. Elevator companies are making 1t
an object for holders to keep wheat here, a
circumstance which accounts for the shrink
age in the premium. Local stocks are get
ting down to lower limit than warehouse
men like to see. August opened at 771sc and
finctuated between s4d6Sc, closing at 671sc.
sa,u September a opened at 5osc sold down ,,u. TO
opened at 72hc and closed at 7l14c, these
prices being the extremes. The volume of
trade was above an average. A fair degree
OF activity in the cash market was reported,
and lake engagements for 225, 900 bushels
were given out to-day.
Corn was stubborn and steady. though
prices again slipped back a peg, May, as
usual, ruling, the strongest in the list OF
futures and alone closing fraction higher
than yesterday. Trade was rather quiet and
the market was destitute of new or sensa-
tional features. The crop news was of the
the week. It is contradictory, but in the
main going tOconHrm reports that the crop
has sustained considerable damage in certain
sections; j., August corn opened at at 31s4c'
tembeT tel 3 g. opened At 5s51c, soId ID, down 10 sskc-
up to Ss1SSc and closed at 3ss4c(g371sc. Octo-
ber opened at 4911lc, sold off to $3.50 and. back
to the opening price. closing there. May
started in at 3lslc,,s sold down to 4111c and up
to 4lHc, closing there. There was quite a
little rally right at the close, caused byithe
buying in OF shorts by local scalpers.
The oats marketwas again heavy and de-
pressed by reason of large offerings of more
than the usual proportion of consignments
having to be placed in store.
Provisions closed the week in quiet man
ner. Not mud interest was manifested to-
day, and withfegtar traders about the only
business transScsN was changing over or
making provssieR f0r maturing contracts.
The cash prtlad& was also slower than
usual. In the general market, however. a
strong feeling prevailed, and September-the
pivotal future-was unchanged for lard and
215e higher for short ribs. Lard for Septem-
ber sold ut $6.671a@6.70. and short ribs at
$S15C1S.20, closing at S6.678 for the former
and SS.171f@S.2O for short ribs. August lard
was 10@l21Sc and August short ribs geper-
ally 10c under September. October lard
closed at S67e1S@ rs. and October short ribs
at $S.05. and advance OF 10c.